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| Jon Mikula |
FLORHAM PARK, NJ – HFF
announced today that it has secured a $34.8 million acquisition financing for a
26-building industrial portfolio totaling 926,200 square feet in Fairfield and
Little Falls, New Jersey.
Working on behalf of The Hampshire Companies, HFF
placed the six-year, fixed-rate loan with Principal Real Estate Investors.
The portfolio is 96 percent
leased to a diverse mixture of tenants with no single tenant occupying more
than seven percent of the portfolio.
The offering is situated near major New Jersey transportation corridors
including Routes 46 and 3, Interstates 280 and 80 and the New Jersey Turnpike.
The HFF team
representing The Hampshire Companies was led by senior managing director Jon
Mikula and director Michael Klein.
“Principal provided the borrower with a very
attractive rate and structure that best met the client’s needs and was able to
quickly get their arms around a complex transaction,” said Mikula.
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| Michael Klein |
“With 26 properties and
57 tenants, our objective was to find a
lender who already understood the market and asset type, ISRA compliance
associated with the acquisition of industrial properties and be able to move fast
enough to enable The Hampshire Companies to close on the acquisition with debt
in place,” added Klein.
The Hampshire Companies is
a full-service, private real estate firm with equity in assets valued at more
than $2.5 billion, based in Morristown, New Jersey.
The Hampshire Companies is
a vibrant, dynamic organization that combines creative vision and superior
execution, thereby enabling it to create and enhance value in real estate
investments.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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